“In preparing for battle, I have always found that plans are useless, but planning is indispensable.”

-Dwight D. Eisenhower

There is an old Yiddish proverb we often invoke at Altman Advisors: “We plan, God laughs.” We understand it, not as a cynical admonition against planning, but as a reminder to be open to the unexpected, to be ready to adapt to changes, and to find hope and humor when things don’t go according to our original designs. That mindset proved essential for one of our families after the sudden loss of their home in the 2025 Los Angeles fires.

The family had a significant portfolio with Altman Advisors. Though leveraged, they were financially stable and on a clear path toward financial independence. As long-time Altman clients with a well-structured plan, they had insurance and a roadmap. But after their home burned down, that roadmap needed urgent recalibration.

Knowing that we are much more than asset managers, one of their first calls was to Altman Advisors. How could they best manage this crisis? Should they use the insurance money to rebuild their home? Or should they use the insurance money to pay down their debt and sell the land without rebuilding? 

The first step the Altman team took was to leverage our professional network to connect the client with builders and architects to provide insight into rebuild costs and timelines. Next, we facilitated discussions with real estate professionals to assess the current land value and market potential. Then we conducted a detailed financial analysis comparing the long-term implications of rebuilding versus selling, ensuring the decision aligned with their overall wealth strategy.

We gathered data for both scenarios. Our analysis showed that the insurance proceeds would not rebuild the home they just finished remodeling. Selling the land, by contrast, would enable them to retire their entire mortgage and nearly all their margin balance without the time, stress, and uncertainty of another construction project.

In the end, informed by hard numbers, cognizant of the emotional experience of an extensive remodel, and comforted by the fact that they had made a lot of money selling their previous home, they decided to sell the property, pay off the mortgage, and accept a modest remaining margin balance from the home renovation. They are now searching for a more affordable home, with less debt and pressure. 

At Altman Advisors, we understand that loss is not only financial—it’s also deeply personal. Our CEO shared with the family the story of his grandmother, who lost her home to a fire in Poland just before World War II. That loss ultimately led to a move to Chicago, and a new beginning that spared her from the horrors of the Holocaust. “Sometimes,” he told them, “the fire that upends everything becomes the spark for a better future.” 

Guiding clients through growth, such as after a successful business sale or a booming real estate exit, is gratifying for all advisors. But what sets Altman Advisors apart is our steady hand during life’s hardest chapters. When disaster strikes, we show up with clarity, compassion, and a plan. That’s the essence of legacy stewardship.